The BCCI has officially approved Torrent Group's acquisition of the majority stake in Gujarat Titans ahead of IPL 2025.
The Torrent Group, an Ahmedabad-based conglomerate, has officially completed its majority stake acquisition in Indian Premier League (IPL) franchise Gujarat Titans (GT).
The Torrent Group acquired a 67 percent stake in Gujarat Titans from Irelia Company Pte Ltd (CVC Capital Partners) after getting approval from the Board of Control for Cricket in India (BCCI). The Torrent Group is a conglomerate that focusses on healthcare and energy sectors.
The CVC Capital Partners will retain 33 percent of the stake in the franchise. CVC had acquired the Gujarat franchise for Rs 5625 crore in 2021.
The Gujarat Titans, led by Hardik Pandya, went onto clinch their maiden IPL title in their debut season in 2022, beating Rajasthan Royals (RR) in the final. Gujarat Titans had once again reached the final, in IPL 2023, but went down to Chennai Super Kings (CSK) in a rain-marred title clash in Ahmedabad.
Hardik Pandya, however, left the franchise for his old team Mumbai Indians (MI) ahead of IPL 2024. Shubman Gill took over as Gujarat Titans captain ahead of IPL 2024, but the team failed to qualify for the playoffs after finishing in eighth place. The Torrent Group had initially announced the acquisition on February 12 but at that time the two parties were waiting for an official approval from the BCCI.
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“It is a matter of great pride for us to welcome Gujarat Titans and millions of its passionate fans into the Torrent Group. As sports continues to gain prominence in India, Torrent sees great potential in this rapidly growing sector. With the acquisition of a majority stake in the Gujarat Titans, we are excited to have the opportunity to elevate our fan experience and unlock new growth avenues in the years to come,” Jinal Mehta, Torrent Group’s director had said in February.
Gujarat Titans will begin their IPL 2025 campaign with a home game against Punjab Kings (PBKS) at Ahmedabad’s Narendra Modi Stadium on March 25.
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